ACORN Canada Members will be holding protests in 4 cities across Canada in a coordinated day of protest with allies in 7 other countries calling for reform of the global remittance system.
The major players in the Global Remittance market like MoneyGram, Western Union, Scotia Bank, HSBC and others charge excessively high rates that hurt immigrant families here in Canada and keep much needed resources out of the developing world.
Quick Facts about Remittances:
• According the World Bank, global remittance flows totaled $398 billion in 2008, with $305 billion USD heading to the developing world.
• Remittances Have a Huge Impact On Developing Countries and the Global Economy.
• The money sent home by migrants is the second largest financial in-flow to many developing countries, exceeding international aid.